Futures turned red here 45 minutes before open. This could get really really ugly.
Looking for some support numbers below on the S&P, 967 then 941.
Wednesday, October 8, 2008
FED Emergency Rate cut.
This is one of the reason I have been out of shorts in the last week. Yes I have missed some of the downside but an emergency rate cut could send us higher and catapult a rally. Now the scary thing is if we go down today on this news we in serious trouble as the FED has no more bullets in its gun. Lets see how it works out, as I said I dont want to be the last person shorting when we start to get a bounce because the bounce might be huge. Now I dont know if it today but this has the best chance to get some traction.
Talk to you later.
MARKETJEDI
Talk to you later.
MARKETJEDI
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